San Diego Housing Market News and Analysis
May Case-Shiller HPI
Submitted by Rich Toscano on July 29, 2008 - 8:29pm
Nobody should be surprised to learn that the HPI was down again in May. Here's a view from the peak:
For the month, the low tier was down 2.9%, the middle tier .6%, and the upper tier 1.1%. What's this? The upper tier fell more than the middle tier. This is the first month that's happened, to my knowledge.
The aggregate index was down 1.4% for the month and is down 28.9% since the November 2005 peak.
The HPI proxy based on size-adjusted median predicted a decline of .9% vs. the actual 1.4%, so it was a bit optimistic for May.
The following list shows the last time prices were this low for each tier:
More charts below over different time periods:
And the same thing adjusted for CPI inflation:
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